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Creating Win-Win favors China's Self-development amidst global changes

Editor: Li Kun 丨CCTV.com

10-21-2015 15:33 BJT

Editor' s Note: Chinese President Xi Jinping put forward his concept of a "new type of win-win cooperation international relations" at the general debate of the 70th session of the UN General Assembly in September. Here is the 3rd article in a 4-parts series elaborating on this concept.

By QiaoWei, Vice President of Overseas Chinese Association, China

Beijing has put forward a cooperation and win-win concept to support a global economic development trend and to enhance national self-development. The Chinese economy remains one of the most active in the world.

Xi delivered a speech in the Royal Gallery of the British Parliament on Oct.20.

Chinese President Xi Jinping delivered a speech in the Royal Gallery of the British Parliament on Oct.20.

From the perspective of economic power, in 2014 China's total Gross Domestic Product (GDP) reached US$10.4 trillion, which accounted for 13.4 per cent of the global total, making it the world’s second largest.

From the perspective of international influence, in August 2015, the RMB had surpassed the Japanese Yen as the world's fourth largest currency of payment.

From the perspective of industrial competitiveness, in 2014, the Chinese manufacturing output share in global manufacturing output had risen to 25 per cent, ranking first in the world since 2010.

From scientific and technological strength, the Chinese technology investment scale is the second largest with the scale of personnel ranking first in the world.

From the perspective of infrastructure, the high-speed rail mileage, highway mileage, 4G net scale and scale of the internet uses are all the world's first.

From international competitiveness, total import and export trade ranked first since 2013, and in 2014, the scale of using foreign direct investment had become the world's first, and the foreign direct investment ranking third since 2012.

For more than 30 years, the Chinese economy has developed rapidly. Economic output grew by more than 100 times. GDP per capita had also entered the ranks of middle-income countries from low-income nations.

People’s living conditions have improved, and the overall national strength has increased. The predictions of badmouthing China continue to fail.

The National Development and Reform Commission (NDRC) data shows that during the first four years of the current "Twelve-Five" plan, China’s GDP had grown 8 percent annually on average.

Although China's economic growth rates have slowed down, lower than before after the international financial crisis, Beijing has implemented a high-base growth pattern with quality efficiency at a steady pace. 

Meanwhile,  China's correlation with the world is unprecedented. China has widely participated in global and regional cooperation. China's development and changes have a far-reaching impact on the world.

After more than 30 years of reform and opening up, China has solved its food and clothing problems, while producing a large accumulation capacity with huge sums of capital and foreign exchange reserves.

Such reform energy has made an effective use of the production cycle in China. The economic scale continues to expand.

With huge market demand and expansion of foreign investment, China's significant contribution to the world economy, and Chinese capital two-way flow and the world share of Chinese development results, have instilled a profound integration of the global economy.

The 16th Chinese Communist Party Plenary Session in October 2005 had adopted the win-win strategy of opening up. Since then, China has been committed to pursue the strategy. With self-development, China promotes the common development of the region and the world.

According to prevailing international economic and trade rules, China has enhanced its market access, supports international society by helping developing countries improve their self development, while narrowing down the North-South gap.

China has participated in international cooperation, offered nearly 400 billion Yuan of assistance and sent more than 600,000 aid workers to more than 160 countries and international organizations.

Beijing endorses improvements to international trade and financial systems via trade and investment liberalization and facilitation. China advocates dealing with economic and trade frictions through consultations.

The International Monetary Fund (IMF) has summarized Beijing's role during the international financial crisis by saying the nation had become an important engine of global economic growth.

Since the reform and opening up, China has relied on an abundant and cheap supply of labor for its manufacturing sector. 

With the fading of demographic dividends, such advantages no longer exist. China must adjust to the change, by cultivating new advantages in different sectors of its economy.

China needs the healthy development of its economy. Especially after the 2008 global financial crisis, Beijing had responded positively to the international economic environment, conforming  with the trend to enter a new norm.
The country is now embarking on a new economic development strategy.

How to give full play to China’s economic "ballast", "power source" foundation through win-win cooperation, make the world share the fruits of China's economic reform and opening up, in order to realize a new type of international relations of "everyone benefits?"
 
Stay tuned for the next issue: Creating Win-Win Cooperation to Build a Community of Destiny.

This series of articles have been compiled from the content of the 86th "Forum on World Affairs" of "Overseas Chinese Friends". 

( The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com. )

 

 

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

Panview offers an alternative angle on China and the rest of the world through the analyses and opinions of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

 

 

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